Introduction The State University of New York (2014) provides and clear and accurate description of globalization: “Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world” (The State University of New York, 2014, para 1). Global economics affects the decisions of firms, governments, and individuals in the United State in many different ways. The World Trade Organization manages the rules and trade between nations and has a significant impact on intellectual property rights. Intellectual property rights refer creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce (World Intellectual Property Organization, 2014). The purpose of this paper is to compare and contrast free trade and protectionist theories, analyze how the global environment functions on a micro and macro level within the context of the World Trade Organization, analyze the two-level game theory and how organizations make financial decisions in a globalized environment, and determine which parties benefit from either increasing or decreasing trade restriction. Free Trade and Protectionist Theories
Globalization involves “the socioeconomic reform process of eliminating trade, investment, information technology, and cultural and political barriers across countries, which could lead to increased economic growth and geopolitical integration and independence among nations of the world (Gasper, 2017, p. 5)”. Globalization has led to many great successes and has allowed good and services to cross foreign borders. Globalization permits economic growth within developing and developed countries.
Globalization, described as the expansion, intensification and acceleration of global interconnectedness, is one of the intense phenomena that the contemporary era has experienced. It has influenced the monetary, ecological, and societal characteristics of all the nations of the world. Due to both positive and negative consequences on the life of the citizens the world over, globalization is one of the most talked about issue of this century (Javed 2004).
Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology (Globalization 101). Globalization has progressively integrated its way into all countries, consequently, it has also integrated its way in the Gwich’n society and the Mosuo people of Southwest China leaving both positive and negative impacts on their traditional culture and society.
Globalization describes the interdependence of nations, the opening up of markets through the removal of trade barriers, foreign direct investment, and enhancing of technological communications. Moreover, it is the shift towards the
Allen and Dadgar (2012) utilized data on 22, 962 incoming college freshmen who were part of the City University of New York’s (CUNY) College Now program and had enrolled in a CUNY campus within 15 months after high school graduation. This data was merged with data from the New York City (NYC) Department of Education which included all high school students who had been peers of the students in the College Now dual enrollment program. The NYC Department of Education data included extensive demographic information and test score data as well information on institutional differences between high schools. This rich data set enabled comparison between students who had participated in dual enrollment and comparable peers who had not participated. In order to control for preexisting differences that were not reflected in the data set this study used a quasi-experimental analysis called the difference in differences. The results of this study confirm the work of other recent quantitative analyses which have shown higher GPA’s and reduced time to graduation for dual enrollment students as compared to their peers. The authors suggest that this study confirms the importance of academic momentum by demonstrating that students who are able to gain credits before starting college also earn more credits once they are enrolled in college. This study adds to the evidence that dual enrollment has a positive impact on postsecondary GPA and time to graduation.
Globalization is defined as “a process that encompasses the causes, course, and consequences of transnational and transcultural integration of human and non-human activities.” (Al-Rodhan and Stoudmann, 2006).
Globalization is a process of multinational character by exchanging of capitals, goods, services and labour among the nations. Often it reforms the process of nation's social development on the lines of socio-cultural, environmental, political and geographical conditions.
Globalization is the process of development on an international scale as well as the interaction among people, exchange of ideas, companies, cultures, government and many more around the world.
Globalization101 describes globalization as a “process of interaction and integration” of different commercial and governmental entities “driven by international trade and investment and aided by information technology”. The Globalization process itself, is not restricted to trade issues alone, but the impacts of the exchange of goods and services on, the environment, culture, political systems, and economic development. (What is globalization, globalisation101)
We all use the term globalization but what is globalization? Globalization is both a process and a theory. A man by the name of Roland Robertson, who is linked closely to globalization theory, views globalization as an accelerated compression of the contemporary world and the intensification of consciousness of the world as a singular entity. Compression makes the world a single place by virtue of the power of a set of globally diffused ideas that render the uniqueness of societal and ethnic identities and traditions irrelevant except within local contexts and in scholarly discourse. It is the world being transformed into a global village. Today because of globalization there is a worldwide integration, technological revolution, increase trade among nations, reduction of cultural barriers, increase environmental protection and a spread of democratic ideas.
Globalization is the process of international integration arising from the interchange of world views, products, ideas and other aspects of culture. Advances in transportation and telecommunications infrastructure, including the rise of the telegraph and its development the Internet, are major factors in globalization, generating further interdependence of economic and cultural activities. Globalization implies the opening of local and nationalistic perspectives to a broader outlook of an interconnected and interdependent world with free transfer of capital, goods, and services across national frontiers.
Globalization is currently a very hot topic and many people have an awful lot to say about the matter, creating different theories and points of view. A definition of globalization could be, ‘The straightforward exchange between core and peripheral areas based upon a broad division of labour, is being transformed into a highly complex, kaleidoscopic structure involving the fragmentation of many production processes and their geographical relocation on a global scale in ways which slice through national boundaries.’ (Dicken ’98).
Globalization is currently a very hot topic and many people have an awful lot to say about the matter, creating different theories and points of view. A definition of globalization could be, ‘The straightforward exchange between core and peripheral areas based upon a broad division of labour, is being transformed into a highly complex, kaleidoscopic structure involving the fragmentation of many production processes and their geographical relocation on a global scale in ways which slice through national boundaries.’ (Dicken ’98).
‘Globalization is a term that came into common usage in the 1980’s to describe the increased movement of people, knowledge and ideas, and goods and money across national borders that has led to increased interconnectedness among the world’s populations, economically, politically, socially and culturally’. ‘Although globalization is often thought of in economic terms (i.e., “the global marketplace”), this process has many social and political implications as well’. Many in local communities associate globalization with modernization (i.e., the transformation of “traditional” societies into “Western” industrialized ones). ‘At the global level, globalization is thought of in terms of the challenges it poses to the role of governments in international affairs and the global economy’.
The word ‘Globalization’ is self-explanatory. It is a global program for preserving evenness in the lifestyle of the people all over the globe. Globalization is the result of the interchange of worldly interpretations, opinions and the numerous features of the culture everywhere around the world. This is the means for offering the international arena for combination of people from different sectors, culture and dialects and learns to change and go forward socially without damaging and upsetting each other’s status.